Uber's losses continue to grow

"Net loss for the quarter on a GAAP basis was $1.07 billion — larger than Uber's loss of $891 million in Q2, an increase that the company attributes to spending more on growth in "competitive markets" like the U.S., India and the Middle East, as well as on bikes and scooters."

I guess the question becomes, will these "competitive markets" ever not be competitive? Will Uber ever be able to 'win', or is the barrier to entry in any given city low enough that there's no way from they to ever build a sustainable business.

I guess making it up in volume isn’t working out recently.